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Course Outline

Introduction to Fixed Asset Management

  • Definition and significance of fixed asset management.
  • Impact on financial reporting and compliance.
  • Integration with accounting and ERP systems.

Classification and Configuration of Fixed Assets

  • Fixed asset categorization based on IFRS standards.
  • Asset parameterization within accounting management systems.
  • Best practices for effective asset classification.

Creation and Registration of Assets

  • Acquisition methods and initial recognition.
  • Capitalization of associated costs.
  • Workflows and approvals for asset registration.

Control and Monitoring of Assets

  • Identification and tracking of asset components.
  • Maintenance scheduling and lifecycle management.
  • Risk mitigation and internal control measures.

Depreciation and Amortization

  • Common depreciation methods (Straight-Line, Diminishing Balance, Units of Production).
  • Amortization calculations based on asset type and useful life.
  • Accounting records and financial implications.

Asset Movements and Transfers

  • Procedures for internal asset transfers.
  • Generating delivery and assignment records.
  • Approval workflows and audit trails.

Asset Disposal and Write-Offs

  • Causes and procedures for asset retirement.
  • Accounting treatment of asset write-offs.
  • Legal and compliance considerations in asset disposal.

Revaluation, Useful Life Adjustments, and Residual Value

  • Asset revaluation criteria and financial impact.
  • Adjusting useful life and residual value.
  • Revaluation reporting in financial statements.

Summary and Next Steps

Requirements

  • Foundational understanding of accounting principles.
  • Familiarity with financial reporting and regulatory compliance frameworks.
  • No prior experience with fixed asset management is required.

Audience

  • Asset management personnel.
  • Accounting and finance professionals.
  • Internal auditors and compliance officers.
  • Procurement and operations managers.
 14 Hours

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